Michigan's 529 Plans Offer Live Web Chats and Webinars to Answer College Savings Questions

Suggest parents to invest their tax refund into their children's college education

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Apr 01, 2011, 06:00 ET

DETROIT, April 1, 2011 /PRNewswire/ -- Plan representatives with the Michigan Education Trust (MET) and the Michigan Education Savings Program (MESP) will host live web chats on WXYZ.com, one of Detroit's leading TV stations. The web chats are an opportunity for parents and grandparents to learn how to save for their child's future college education.

Robin Lott, director of MET, and Renee Hill, program manager for MESP, will be live on WXYZ.com Tuesday to answer your college savings questions.

Join us:

Tuesday, April 5 at 12 (noon) - 1 p.m. & again from 5 p.m. – 6 p.m.

Wednesday, April 6 at 9 a.m.-10 a.m. & again from 4 p.m. to 5 p.m.

MET and MESP are also providing a series of online webinars to learn more about Michigan's 529 plans. With webinars, you can view the presentation from your home computer and interact with a live presenter. Visit MET, www.setwithmet.com or MESP at www.misaves.com to RSVP. Webinars are offered every Tuesday.

"MET and MESP will continue to expand their outreach to parents and grandparents by offering a variety of tech savvy tools including live web chats, online webinars, and pre-recorded webcasts," said Robin Lott. "We need to keep up with today's technology so parents have every opportunity to learn about the advantages Michigan's 529 plans have in helping parents save for college." MET also has a Facebook page and MESP recently launched a Smartphone application for iPhone, Android, Blackberry and Palm devices.

Like most states, Michigan established its 529 Plans to encourage parents, grandparents and other family members to save for college expenses. MET allows parents to pre-purchase tuition in today's dollars to lock in the cost of tuition in the future at Michigan public schools. MESP is a 529 college savings plan in which account proceeds can be used to pay tuition, as well as other qualified college expenses such as books, supplies, required fees and certain room and board costs at any eligible institution in the nation. Both plans offer a Michigan income tax deduction on 529 plan contributions for Michigan taxpayers.

Starting a MESP account or MET contract can mean less college debt for your child in the future and tax advantages for you today. Think about investing all or portion of your tax refund or annual bonus toward your child's future college education to maximize your tax savings in 2011. You may be eligible for a potential Michigan income tax deduction on your contribution. Both MESP and MET offer tools on their websites to help families learn more about saving for college. MESP offers an online calculator for parents to calculate their college savings needs.

For more information or to RSVP for a webinar visit www.setwithmet.com or www.misaves.com. To participate in an hour-long web chat, go to www.wxyz.com Robin Lott and Renee Hill will provide verbal responses to questions typed into the chat window or by calling 248.356.0077.

Important Information About MET: Asset management, program administration and distribution of MET contracts are provided solely by the Michigan Department of Treasury. MET is neither managed nor distributed by TIAA-CREF Tuition Financing Inc. Please visit www.SETwithMET.com for a MET Enrollment Kit containing important program and contract information and read it carefully.

Important Information About MESP: TIAA-CREF Tuition Financing, Inc. serves as program manager for the Michigan Education Savings Program ("MESP"). Please visit www.misaves.com for a Program Disclosure Booklet and enrollment kit. Read it carefully.

Consider the investment objectives, risks, charges and expenses before investing in the Michigan Education Savings Program. Please visit www.misaves.com for a Disclosure Booklet containing this and other information. Read it carefully. Account value in the investment options is not guaranteed and will fluctuate based upon a number of factors, including general market conditions.

The tax information contained herein is not intended to be used, and cannot be used, by any taxpayer for the purpose of avoiding tax penalties. Taxpayers should seek advice based on their own particular circumstances from an independent tax advisor.

Before investing in a 529 plan, you should consider whether the state you or your designated beneficiary reside in or have taxable income in has a 529 plan that offers favorable state income tax or other benefits that are only available if you invest in that state's 529 plan.